Ann: Request for Trading Halt , page-49

i think it was quite a good opportunistic move by MAK.
BCD has a very high grade resource which, MAK, may be able to run more profitably.

The fact is that they have found a vehicle to move their tin and tungsten assets into. Once this is done, the value of these assets should be realised via an increased BCD shareprice.

My understanding is that BCD costs are high on the back that they are spending quite a bit on proving up greater reserves for a longer mine life. This higher cost is temporary.
Also, remember BCD has copper in Stavely as well.

BDG knew what they were merging. I think they may have thought they could pick up BCD cheaply through a firesale. They would not have countered on another resource company coming in and doing a deal with BCD.

BCD will eventually fund the tin and tungsten development, allowing MAK to focus on phosphate.